March 15, 2023 – Chief Economist and Managing Director, Jeanette Garretty appeared on Bloomberg to discuss the latest US CPI data and banking sector turmoil. “There’s always systemic risk when it comes to banking. It is embedded in everything that we do. But unlike 2008, we’ve got experience that these Fed officials have a great deal of experience on picking up those signals and moving fast,” says Garretty. “We saw that in their response to Covid very quick actions to stabilize the system. And I think we saw the same thing this last weekend. So there’s always systemic risk. The question is, can it be managed? I think it can be. It’s gut wrenching when you see it happening in front of you, which is how we felt over the last five days over here. But I do think it can be managed.” Watch here: https://bloom.bg/3TjILtQ
